The Globe and Mail reports in its Friday edition that BCE is reducing its work force by 4,800 positions, its largest restructuring initiative in nearly 30 years, blaming a difficult economy and a regulatory requirement to open its network to competitors. The Globe's Alexandra Posadzki writes that chief executive officer Mirko Bibic called the decision "incredibly tough" and said that, wherever possible, the company would use vacancies and natural attrition to reduce its work force, which is being cut by 9 per cent. Bell Media plans to sell 45 of its 103 radio stations to seven buyers. However, Robert Malcolmson, BCE's chief lobbyist, said less than 10 per cent of the job cuts announced Thursday are at Bell Media. Heritage Minister Pascale St-Onge said it was a "dark day" for the BCE employees losing their jobs and she is "extremely disappointed in Bell Canada's decision for many reasons." Ms. St-Onge said the government's approval of acquisitions of radio and television stations came with promises of continued investment and delivery of news content, and now BCE is backing away from that commitment. She noted that cultural and news industries are "having a hard time." BCE's shares closed at $51.35, down $1.72.